Suncorp’s Pancino returns to CIO role in restructure

Suncorp Group restructures for new ‘customer platform’ approach

Suncorp’s Matt Pancino has been reappointed to the role of group CIO as part of restructure of the company’s operating model.

In mid-2014 Pancino, who had been CIO at Suncorp Group since late 2013, was appointed CEO of Suncorp Business Services. Along with technology strategy, that role included Suncorp's shared real estate, and partnering and procurement services.

Today the financial services group announced Pancino would take on the CIO role, which includes all technology, digital enablement, the company’s chief data office, and a new innovation labs function.

As part of the restructure, Mark Reinke has been appointed chief customer experience officer and Gary Dransfield will become chief executive officer customer platforms, a role that includes development and operations of Suncorp’s digital platforms.

In a results presentation last week Suncorp announced profit for 1H16 of $530 million, which group CEO Michael Cameron described as “well short” of what the company can deliver.

The CEO used the results presentation to outline changes to the group’s strategy, including taking a “customer platform” approach that would see a focus “broadening and deepening the relationship with existing customers”.

“This is the logical next step in achieving the Group’s ‘One Company.Many Brands’ strategy and enables the business to meet the needs of its 9 million customers while building a more resilient organisation,” Cameron said today in reference to the restructure.

“The new model aligns the business to the delivery of the customer strategy by creating customer-focused functions supported by leaner shared services. This will enable us to create greater value for our customers, which will support business growth and sustainable returns to our shareholders.

“The customer experience function will use data, insights and forward-looking analytics to inform product innovation and marketing strategies to ensure that Suncorp is at the forefront of satisfying evolving customer needs.

“The Customer Platforms function will create dynamic and interactive platforms to allow our customers to access any product and any brand via any channel, including a digital marketplace.”

The bank will have three operational business units: Banking and Wealth (led by John Nesbitt), Insurance Australia (led by Anthony Day), and Insurance New Zealand (led by Paul Smeaton).

“Our investments in simplification and optimisation programs remain highly relevant as they continue to deliver cost efficiencies,” Cameron said.

“Importantly, they are enabling us to improve our customer connections, simplify systems and develop our business intelligence with the security, cost-effectiveness and scalability of the cloud.

“This, together with our high-performing culture, makes realigning the operating model a natural evolution.”

Clayton Herbert will take on the role of chief transformation officer and have responsibility for the bank’s transition to the new operating model.

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